Shares of Enovix Co. (NASDAQ:ENVX – Get Free Report) dropped 1.3% during mid-day trading on Friday . The company traded as low as $15.37 and last traded at $15.48. Approximately 1,280,271 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 5,278,271 shares. The stock had previously closed at $15.69.
Analysts Set New Price Targets
ENVX has been the subject of a number of research analyst reports. Craig Hallum cut their target price on shares of Enovix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. B. Riley upgraded shares of Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. cut their price target on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price target on shares of Enovix in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Enovix in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enovix has a consensus rating of “Buy” and a consensus target price of $18.33.
Get Our Latest Research Report on Enovix
Enovix Stock Down 1.5 %
Enovix (NASDAQ:ENVX – Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. The firm had revenue of $5.27 million during the quarter, compared to analyst estimates of $4.16 million. Equities analysts anticipate that Enovix Co. will post -1.15 EPS for the current fiscal year.
Insider Activity at Enovix
In related news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the transaction, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Enovix news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the sale, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares in the company, valued at $7,155,854.03. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by company insiders.
Institutional Trading of Enovix
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Capital Management LLC grew its position in Enovix by 66.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the last quarter. Able Wealth Management LLC acquired a new stake in Enovix in the 4th quarter worth $34,000. Quest Partners LLC acquired a new stake in shares of Enovix during the 4th quarter valued at about $49,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Enovix during the 4th quarter valued at about $50,000. Finally, Game Plan Financial Advisors LLC boosted its position in shares of Enovix by 65.2% during the 1st quarter. Game Plan Financial Advisors LLC now owns 10,135 shares of the company’s stock valued at $81,000 after acquiring an additional 4,000 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.
Enovix Company Profile
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
Read More
- Five stocks we like better than Enovix
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- Transportation Stocks Investing
- MarketBeat Week in Review – 6/24 – 6/28
- Market Cap Calculator: How to Calculate Market Cap
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Receive News & Ratings for Enovix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enovix and related companies with MarketBeat.com's FREE daily email newsletter.